Artist Token Referral Circulation

How tokens flow through the GORJS DAO system

To facilitate the genesis of GORJS and onboard a strong community of artists at launch, the Founding Team will invite select established creators to kick off Season 1 and distribute Creator Token Grants to these invited artists. The Founding Team holds the responsibility to invite creators, who will likely submit projects and actively participate in GORJS governance. The Creator Token Grant incentivizes the original artists to play a role in determining the next generation of GORJS-affiliated creators. All token holders will eventually have the opportunity to determine who will receive Creator Token Grants through an organized voting process.

Once these creators accept the Founding Team’s invitations, they are required to refer 5 unique artists from their existing connections and associations. A successful referral entails the referred artist agreeing to participate in future submissions, GORJS governance, and the referral system for additional artist outreach. Artist qualifications are checked against their existing portfolio in web3, where total sales need to exceed a certain threshold. Only when qualifications are met does the referred artist receive the tokens. Similar to the original artist invitees, referred artists will need to invite 5 different creators to participate, continually growing the number of artists submitting proposals. For each successful referral, the newly referred artist will be entitled to receive Artist Referral allocations of GORJS tokens – a fixed quantity of tokens per artist – pending total allocation has not been exhausted yet*. The distribution schedule for this determined quantity is impacted by the number of successful referrals completed to-date at any given quarter. For example, if there are fewer artists who accept referrals than originally envisioned within the ecosystem, less tokens would be circulated to artists based on an assumed allocation per referral. Although the artist referral allocation is estimated to be fully realized within about one year of the DAO’s existence, actual distribution of the total supply would be slower in this scenario. Token distribution is dependent on the following:

• Estimated token allocation of 10,000 tokens per successful referral

• Number of artists willing to take part in the activities of GORJS

• Token issuance reflecting a total allocation of 2,000,000 GORJS tokens. *Circulation halts once the total allocated portions are fully distributed